Kromek Group PLC Funding to advance Bio-Threat Detection solution (4715L)
January 13 2021 - 2:01AM
UK Regulatory
TIDMKMK
RNS Number : 4715L
Kromek Group PLC
13 January 2021
13 January 2021
Kromek Group plc
("Kromek" or the "Group")
Kromek receives Innovate UK funding to advance Biological-Threat
Detection solution
Funding received for customisation of system for automated
detection of airborne SARS-CoV-2 and identification of novel and
mutating viruses
Kromek (AIM: KMK), a worldwide supplier of detection technology
focusing on the medical, security screening and nuclear markets,
announces that it has commenced a GBP1.25m programme funded by
Innovate UK to customise its biological threat-detection solution
for the automated detection of all airborne viruses, including
COVID-19, to support end-use cases.
The Group's solution is designed to be deployed in high footfall
locations, such as airports, hospitals, retail outlets and
entertainment venues. The base technology, which is fully
developed, samples the air in-situ to detect and analyse airborne
pathogens using DNA sequencing. In response to the pandemic, the
initial focus is on productising the technology to develop a system
that will rapidly test for the presence of SARS-CoV-2, the virus
that causes COVID-19. It will run automatically and the results
will not require analysis by trained individuals or specialist
laboratories.
By detecting the virus in the air in real time, rather than
solely relying on the testing of individuals or development of
symptoms in individuals, the system will enable earlier
identification of potential infection exposure to help reduce
transmission. It will also support facilities management such as by
enabling site operators to know what level of ventilation is
required from the HVAC system or when decontamination is
necessary.
In addition, the system will have the capability to test for a
wide spectrum of viruses, including mutations of SARS-CoV-2. This
will support the development of a bio-resilience solution against
the spread of new strains of COVID-19 or other novel viruses that
could result in future pandemics.
Kromek is engaging with potential customers for the COVID-19
detection system to develop deployment models and identify how it
can best fit their needs. The Group will provide any necessary
customisation of the system ahead of piloting by those user groups.
The Group expects the first pilots with potential users to commence
by the end of this financial year and anticipates commercial
deployment in 2021/22.
The funding has been awarded under an 18-month programme of UK
Research and Innovation ("UKRI"), which is a non-departmental
public body sponsored by the UK government's Department for
Business, Energy and Industrial Strategy that brings together the
UK's seven research councils, Innovate UK and Research England. The
programme seeks to support the development of solutions to address
and mitigate the health, social, economic, cultural and
environmental impacts of the COVID-19 outbreak.
Dr Arnab Basu, CEO of Kromek, said: "We are very pleased to have
received backing from UKRI and Innovate UK to progress the
deployment of our solution for the detection of airborne COVID-19.
Our system can augment the government's Test and Trace system by
enabling early identification of potential exposure to the virus
while supporting the safe return of visitors to public spaces like
mass transport, retail outlets and entertainment venues. We also
believe that the continuous monitoring with our system, which can
test for a wide spectrum of viruses as well as mutations of
COVID-19, has significant potential for protecting against the
outbreak of pandemics in the future."
For further information, please contact:
Kromek Group plc +44 (0)1740 626 060
Arnab Basu, CEO
Paul Farquhar, CFO
Cenkos Securities plc (Nominated Adviser
and Broker) +44 (0)20 7397 8900
Max Hartley (NOMAD)
Julian Morse (Sales)
Luther Pendragon (PR) +44 (0)20 7618 9100
Harry Chathli
Claire Norbury
Alexis Gore
Joe Quinlan
About Kromek Group plc
Kromek Group plc is a technology group (global HQ in County
Durham) and a leading developer of high performance radiation
detection products based on cadmium zinc telluride ("CZT") and
other advanced technologies. Using its core technology platforms,
Kromek designs, develops and produces x-ray and gamma ray imaging
and radiation detection products for the medical, security
screening and nuclear markets.
The Group's products provide high resolution information on
material composition and structure and are used in multiple
applications, ranging from the identification of cancerous tissues
to hazardous materials, such as explosives, and the analysis of
radioactive materials.
The Group's business model provides a vertically integrated
technology offering to customers, from radiation detector materials
to finished products or detectors, including software, electronics
and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and
Pennsylvania), and is selling internationally through a combination
of distributors and direct OEM sales.
Currently, the Group has over one hundred full-time employees
across its global operations. Further information on Kromek Group
is available at www.kromek.com and
https://twitter.com/kromekgroup .
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